Massive ESPN Subscriber Losses Continue to Drag Disney Profits Down

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ESPN is still dragging down the profits of owner Disney Co as fourth quarter fiscal reports come in. It is a pattern that has repeated itself all year.

The latest financial report notes that Disney had an “unexpected” drop in profits and also confirms that ESPN is still losing subscribers by the millions, Reuters reported.

After the fourth quarter report was revealed, Reuters noted that Disney profits were down once again, “dragged down by a poor performance at its cable business, including a drop in subscribers at ESPN:”

Revenue from Disney’s cable business, which includes ESPN and Disney Channel, fell marginally to $3.95 billion in the fourth quarter, while analysts on average were expecting a rise to $4.06 billion, according to Thomson Reuters I/B/E/S.

ESPN, Disney’s cash-cow, has been trying to combat subscriber declines by joining smaller bundles of cable channels and developing a streaming service it will sell directly to consumers.

“Disney’s total revenue fell to $12.78 billion in the quarter ended Sept. 30 from $13.14 billion a year earlier,” Reuters added.

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